SGX-DBSV-REITAS Corporate Day Investor Presentation in...

SGX-DBSV-REITAS Corporate Day Investor Presentation in Bangkok5 September 2019

Shareholders of the Manager:

Important NoticeThis presentation may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual futureperformance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of anumber of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) generalindustry and economic conditions, interest rate trends, cost of capital and capital availability, competition from otherdevelopments or companies, shifts in expected levels of occupancy rate, property rental income, charge out collections,changes in operating expenses (including employee wages, benefits and training costs), governmental and public policy changesand the continued availability of financing in the amounts and the terms necessary to support future business. You arecautioned not to place undue reliance on these forward-looking statements, which are based on the current view ofmanagement on future events. The information contained in this presentation has not been independently verified. Norepresentation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy,completeness or correctness of the information or opinions contained in this presentation. Neither IREIT Global Group Pte. Ltd.(the “Manager”) or any of its affiliates, advisers or representatives shall have any liability whatsoever (in negligence orotherwise) for any loss howsoever arising, whether directly or indirectly, from any use, reliance or distribution of thispresentation or its contents or otherwise arising in connection with this presentation. The past performance of IREIT Global(“IREIT”) is not indicative of the future performance of IREIT. Similarly, the past performance of the Manager is not indicative ofthe future performance of the Manager. The value of units in IREIT (“Units”) and the income derived from them may fall as wellas rise. Units are not obligations of, deposits in, or guaranteed by, the Manager or any of its affiliates. An investment in Units issubject to investment risks, including the possible loss of the principal amount invested. Investors should note that they willhave no right to request the Manager to redeem or purchase their Units for so long as the Units are listed on the SingaporeExchange Securities Trading Limited (the “SGX-ST”). It is intended that unitholders of IREIT may only deal in their Units throughtrading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units. This presentation isfor information only and does not constitute an invitation or offer to acquire, purchase or subscribe for Units.

2

Agenda

3

About IREIT Global1

Slide

4

Key Investment Merits2 9

Financial Highlights3 22

Conclusion4 27

Appendix5 29

4

1 About IREIT Global

Berlin Campus

About IREIT Global

5

Investment Mandate: Principally invests, directly or indirectly, in a portfolio of income-producing real estate in Europe which is used primarily for office, retail and industrial (including logistics) purposes, as well as real estate-related assets

Current Portfolio: 5 freehold office assets in Germany, with total NLA of c.200,600 sqm and valuation of €526.4m

Manager: IREIT Global Group Pte. Ltd., which is jointly owned by Tikehau Capital and City Developments Limited (CDL). Tikehau Capital is an asset management and investment group listed in France, while CDL is a leading real estate operating company listed in Singapore

Distribution Policy: At least 90% of annual distributable income; distributions to be made on a semi-annual basis

Growth Strategy: Based on the four pillars of seeking diversification, adopting a long-term approach, achieving scale and leveraging on the local presence of Tikehau Capital

First Singapore-listed REIT with Europe-focused Mandate

Berlin Campus,

37.1%

Bonn Campus,

20.7%

Darmstadt Campus,

16.5%

Münster Campus,

10.3%

Concor Park, 15.5%

Valuation as at 30 Jun 2019

Berlin Campus,

39.4%

Bonn Campus,

16.3%

Darmstadt Campus,

15.1%

Münster Campus,

13.6%

Concor Park, 15.6%

Net Lettable Area as at 30 Jun 2019

Key Highlights

6

1 Based on 1H2019 DPU of 2.93 Singapore cents and closing unit price as at the last trading day of 2Q20192 As at 30 Jun 20193 Total returns including distributions paid over the 3-year period ended 30 Jun 20194 Based on closing unit price and number of units in issue as at the last trading day of 2Q20195 Weighted average lease to expiry6 Based on NAV of €0.49 per Unit and exchange rate of S$1.5383 per € as at 30 Jun 2019 extracted from MAS website

Portfolio Valuation 2

€526.4m

2019 Annualised Yield 1

7.7%

Market Cap 4

1.02xS$484.5mPrice-to-NAV 4,6

5 Freehold Office

Assets in Germany

WALE 2,5

4.6 years

Occupancy Rate 2

98.6%3-Year Return 3

30.2%

Support from

Tikehau Capitaland CDL

Strategic Assets in German Cities of Berlin, Bonn, Darmstadt, Münster and Munich

Portfolio Overview

7

Münster Campus

Value: €54.0m

NLA: 27,183 sqm

Bonn Campus

Value: €108.8m

NLA: 32,736 sqm Darmstadt Campus

Value: €87.1m

NLA: 30,371 sqm 1 Based on independent valuations as at 30 Jun 20192 Based on gross rental income as at 30 Jun 20193 Based on all current leases in respect of the properties as at 30 Jun 2019

Berlin Campus

Value: €195.1m

NLA: 79,097 sqm

Concor Park

Value: €81.4m

NLA: 31,222 sqm

No. of Properties5

Net Lettable Areac. 200,600 sqm

Car Park Spacesc. 3,400

Appraised Value1

€526.4m

WALE2

4.6 years

Occupancy Rate3

98.6%

Four Pillars of Growth Strategy

8

DIVERSIFICATION

We intend to step up our efforts to diversify IREIT’s

income streams and market exposure via disciplined

investments into the various asset classes and geographical

markets to reinforce the portfolio from any market

gyrations

LONG-TERMAPPROACH

Keeping our eyes on the long term, we foster strong

understanding and lasting relationships with our tenants,

business partners and other key stakeholders by

anticipating their changing needs

SCALE

We plan to scale up and deepen our presence in target markets within Europe, while continuously investing in our current portfolio to ensure

that they stay relevant to the evolving demand of the

markets

LOCAL PRESENCE

Leveraging on Tikehau Capital’s core strengths of

sound investment approach, pan-European network and

market insights, we will tap on its local presence to propel IREIT’s growth and deliver

enduring value to our Unitholders

9

2

Key InvestmentMerits

Bonn Campus

Key Investment Merits

10

Gateway to Core European Markets with Strong Liquidity and Transparent Regulatory and Legal Frameworks1

Stable and Predictable Recurring Income Supported by Blue-Chip Tenant Base2

Strong Platform with Financial Support from Long-Term Strategic Investors3

Direct Access to Local Expertise, Extensive Network and Physical Real Estate Markets in Europe4

Attractive Distribution Yields5

Gateway to Core European Markets

11

Growth has moderated on the back of trade tensions andgeopolitical uncertainties, including Brexit. According toECB’s Jun 2019 forecasts, Europe’s GDP growth for 2019 isexpected to be at 1.2%, compared to 1.8% in 2018.

However, interest rates have continued to be favourableand employment rate and private consumption haveremained healthy.

ECB is also committed to support the European economywith low interest rates.

1 Eurostat

1

Europe’s Economy Supported by Healthy Employment and Low Interest Rates

1.0%

0.6%

0.8%

-0.3%

1.7%

-1.0%

0.0%

1.0%

2.0%

3.0%

2014 2015 2016 2017 2018 1Q2019

GDP Growth (%) 1

Eurozone Germany France Italy Netherlands

7.7%

3.2%

8.7%

10.4%

3.4%

3.0%

6.0%

9.0%

12.0%

15.0%

2014 2015 2016 2017 2018 1Q2019

Unemployment Rate (%)1


0.9%

0.4%

0.5%

2.8%

0.2%0.0%

1.0%

2.0%

3.0%

4.0%

2014 2015 2016 2017 2018 1Q2019

10-Year Government Bond Yield (%) 1


Gateway to Core European Markets (cont’d)

12

Europe, Middle East and Africa (EMEA) region remains the most liquid and investable real estate market,supported by inexpensive financing rates and strong domestic and cross-border capital flows.

Europe has one of the strongest regulatory and legal frameworks as well as good governance, with a number ofEuropean countries dominating the top positions in JLL’s global real estate transparency index in 2018.

Germany is also widely regarded as one of Europe’s safest and most stable countries for investments.

2018 Commercial Real Estate Transaction Volumes1

EMEAUS$293b

(40%)Asia Pacific

US$159b(22%)

AmericasUS$281b

(38%)

1

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1.9

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Transparent Highly Transparent

2018 World’s Top 20 Most Transparent Countries2

1 JLL Global Capital Flows, 4Q20182 JLL Global Real Estate Transparency Index, 2018

1

Core European Markets Offer Strong Liquidity and Transparent Frameworks

Gateway to Core European Markets (cont’d)

13

European office markets continue to benefit fromfirm occupier demand and muted new developmentcompletion. This results in the downtrend in averagevacancy rates and upward pressure in office rents.

The attractive spreads between European primeoffice yields and government bonds supplemented byan additional spread in favour of secondary marketoffice yields should continue to support investmentdemand in the secondary locations.

1 BNPP Main Office Markets in Europe, 1Q20192 CBRE Property Market Outlook Continental Europe, 2019

1

European Office Markets Continues to See Positive Leasing Activity and Rising Rents

Office Take-up for 15 cities in Western Europe1

European Prime and Secondary Office Yields2Prime Office Net Yield Spread over Local 10-year Government Bond Yield (%)2

Stable and Predictable Recurring Income

14

As IREIT’s properties are largely occupied by blue-chip tenants and are mostly single-tenanted, the leases aregenerally committed over a long term with extension options.

As such, the rental income streams from IREIT’s portfolio over the past few years have been relatively stable andpredictable, as evidenced by the historical financial performance of IREIT since listing in Aug 2014.

1 1Q2015 and 2Q2015 DPUs have been restated to reflect the effects of the rights issue done in Aug 2015

2

Long-term Leases from Blue-chip Tenants Provide High Level of Income Visibility

1.10 1.10

1.41

1.62 1.58 1.601.57

1.58

1.44 1.45 1.421.46 1.46 1.49

1.42 1.431.42

1.51

1.00

1.20

1.40

1.60

1.80

4,000

5,000

6,000

7,000

8,000

9,000

1Q2015 2Q2015 3Q2015 4Q2015 1Q2016 2Q2016 3Q2016 4Q2016 1Q2017 2Q2017 3Q2017 4Q2017 1Q2018 2Q2018 3Q2018 4Q2018 1Q2019 2Q2019

Historical Financial Performance1

Net Property Income (€ '000) - LHS DPU (Singapore Cents) - RHS

Contribution from Berlin Campus following

completion of acquisition in Aug 2015

Starting from FY2017,IREIT retained ~10% of

distributable income in line with distribution policy

Blue-Chip Tenant Mix

Stable and Predictable Recurring Income (cont’d)

15

1 Based on gross rental income as at 30 Jun 20192 6.2% of the leases is subject to lease break option in FY2022

99.6% of portfolio leases1 will be due for renewal only in FY2022 and beyond2

Stable Leases

52.3%

34.2%

4.2%3.7%

3.3% 2.3%

Key Tenants 1

GMG - Deutsche Telekom Deutsche Rentenversicherung Bund

ST Microelectronics Allianz Handwerker Services GmbH

Ebase Others

ebase GmbH is part of the FNZ Group, a global fintech company. As a B2B direct bank, ebase is a full service partner for financial distributors, insurance companies, banks, asset managers and other companies.

Allianz Handwerker Services is a unit of Allianz SE, one of the world's largest insurance companies. S&P’s long-term rating stands at AA.

ST Microelectronics is one of the world’s largest semiconductor companies with net revenues of US$9.66b in 2018 and BBB credit rating.

Deutsche Telekom is one of the world’s leading integrated telcos with around c. 178m mobile customers, c. 28m fixed-network lines and c. 20m broadband lines. S&P’s long-term rating stands at BBB+.

Deutsche Renten-versicherung Bundis Europe’s largest statutory pension insurance company with over 57m customers and ‘AAA’ credit rating.

0.0% 0.2% 1.8%

31.5%

24.1%

42.4%

0.0% 0.2% 0.2%

25.3% 24.1%

50.2%

FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 andBeyond

Lease Break & Expiry Profile

Based on lease break Based on lease expiry

Weighted Average Lease Expiry: 4.6 years1

2

Strong Platform By Strategic Investors

16

Founded in 2004 and listed on Euronext Paris since Mar 2017, Tikehau Capital is an asset management andinvestment group with €23.4b of assets under management (AUM) as at 30 Jun 2019. Its real estate business is thesecond largest operating segment with an AUM of €8.0b.

Tikehau Capital has a shareholders’ equity of €3.0b (as at 31 Mar 2019, including the amount of Jun 2019 capitalincrease), with first-tier institutional investors such as Temasek Holdings, MACSF, FFP and Credit Mutuel ARKEA.

In Jun 2019, Tikehau Capital raised €715m of additional shareholders’ equity, the second largest capital increase inFrance so far in 2019, to finance its next phase of growth. With the capital increase, Tikehau Capital is the thirdlargest capitalised alternative asset manager in the world.

Tikehau Capital employs more than 480 staff in its 9 offices in Paris, London, Brussels, Madrid, Milan, New York,Seoul, Singapore and Tokyo offices.

3

IREIT Benefits From Strong Investment Platform from Tikehau Capital

PRIVATEDEBT

€8.4BN

PRIVATEEQUITY

€3.6BN

LIQUID STRATEGIES

€3.3BN

REALESTATE

€8.0BN

Strong Platform By Strategic Investors (cont’d)

17

Tikehau Capital’s AUM has more than doubled from 2016, reaching an AUM of €22.0b as at 31 Dec 2018 andexceeding its target 2 years earlier than expected. In Mar 2019, Tikehau Capital set a new target to achieve an AUMof €35.0b by 2022.

3

Strong Execution has Led Tikehau Capital’s AUM to More Than Double in 2 Years

0.01.6 3.0 4.3

6.410.0

13.8

22.0

35.0

2004 2012 2013 2014 2015 2016 2017 2018 2022

Tikehau Capital's Total AUM (€'b)

Inception of Tikehau Capital

Acquisition of Salvepar

Opening of London Office

Opening of Singapore

Office

Opening of Brussels and Milan Offices

Temasek and FFP became shareholders

Acquisition of Lyxor UK’s

Senior Debt Activities

Acquisition of IREIT Global

Listing of Tikehau Capital

Opening of Madrid and

Seoul Offices

€702m Rights Issue

Acquisition of Credit.fr

Opening of New York Office

Launch of Private Equity

Funds

Strategic Partnership with DWS

Acquisition of Sofidy and ACE Management

Guidance

Strong Platform By Strategic Investors (cont’d)

18

City Developments Made a Strategic Investment in the Manager and IREIT in Apr 2019

35.0%

16.4% 12.4%

36.2%

Unitholdings in IREIT Global1

Mr Tong Jinquan Tikehau Capital City Developments Others

City Developments Limited (CDL) is a leading Singapore-listed real estate operating company with a globalnetwork spanning 103 locations in 29 countries andregions and proven track record of over 55 years in realestate development, investment and management.

The strategic investment in IREIT is expected to bring thefollowing benefits:

Further diversification of its unitholders base Greater expertise and reach in the real estate sector Stronger financial capabilities

These benefits will help IREIT to pursue its growth plansto bring greater diversification and scale to the existingportfolio.

To show its long-term commitment to grow IREIT andgreater alignment of interest with unitholders, TikehauCapital also almost doubled its stake to 16.4%.

50.0% 50.0%

Shareholdings in the Manager1

Tikehau Capital City Developments

3

1 Based on SGX filings on 30 Apr 2019

The Manager Can Harness Tikehau Capital’s Strong Local Coverage to Grow IREIT

Access to Local Expertise and Network

19

Mr Aymeric Thibord, CEO of the Manager, is based inParis, France and has over 20 years of experience in theEuropean real estate markets.

The Manager also benefits from the support of the realestate team at Tikehau Capital:

Track record in the retail, logistics and office sectors Presence in France, Italy and Belgium Asset management coverage Investment management skills

In addition, the Manager is able to leverage on thestrong enduring relationships with working partners,including property managers, leasing brokers,investment advisors and tax and legal advisors.

In Dec 2018, Tikehau Capital acquired leading Frenchreal estate asset manager, Sofidy, further deepening itstechnical know-how, network and presence in theEuropean real estate sector.

4

69%

23%

8%

Real Estate AUM by Country1

France Germany Italy

41%

19%

12%

12%

11%5%

Lettable Area by Asset Category1

Office Retail Park Mixed Office/Storage

Development Industrial Shopping Centre

1 Tikehau Capital’s real estate assets as at 31 Dec 2018 excluding Sofidy

Asset ManagerFrance

Logistic ParkFrance

IndustrialFrance

Retail ParksFrance

Mixed Use PortfolioFrance

Shopping CentreFrance

Shopping CentreItaly

Shopping CentreItaly

With an established footprint in European real estate, Tikehau Capital provides IREIT with strong on-the-ground expertise and investing capabilities

Access to Local Expertise and Network (cont’d)

20

4

Netherlands

Germany

France Italy

Belgium

SGX Listed REITGerman Portfolio

Diversified Portfolio with c.410 Assets under Management (excluding Sofidy’s portfolio of c.4,200 assets)

Selected Assets In Tikehau Capital’s Real Estate Portfolio

Attractive Distribution Yields

21

5

IREIT stands out among its listed peers and other investment yield instruments

7.66%

-0.33%

5.06%

2.00%2.50%

5.54%

IREIT FY2019 AnnualisedYield

German 10-YearGovernment Bond Yield

FTSE EPRA/NAREITDeveloped Europe REITs

Singapore 10-YearGovernment Bond Yield

Central Provident FundInterest Rate

FTSE Straits Times REITIndex Yield

Yields of Selected Investment Products (%)

212bps260bps

S I N G A P O R EE U R O P E

(1) (2) (3) (2) (4) (5)

(1) Based on 1H2019 DPU of 2.93 Singapore cents and IREIT’s closing unit price as at the last trading day of 2Q2019(2) Based on Bloomberg benchmark yields as at 28 Jun 2019(3) Based on FTSE Russell Factsheet for FTSE EPRA/NAREIT Developed Europe REITs Index as at 28 Jun 2019(4) Based on annual interest rate earned on Central Provident Fund (CPF) ordinary account(5) Based on FTSE Russell Monthly Report for FTSE ST Index Series as at 31 May 2019

Post-Tax

I R E I T

22

3

Financial Highlights

Darmstadt Campus

Financial Highlights

23

Portfolio Improvement

Net property income for 2Q2019 was relatively stable at €7.9m, registering a marginal decrease of 0.6% YoY

2Q2019 DPU was 1.3% higher YoY at 1.51 Singapore cents. This brings the 1H2019 DPU to 2.93 Singapore cents, translating to an annualised DPU yield of 7.7%1

Portfolio occupancy rate remained steady QoQ at 98.6% as at 30 Jun 2019

A number of leases for the key tenants at Concor Park were extended, resulting in an improvement of the portfolio WALE to 4.6 years. 99.6% of the portfolio leases are due for renewal only from FY2022 and beyond

A new lease commencing on 1 Jul 2019 was also secured at Münster South Building

Portfolio valuation at €526.4m, marking an increase of 4.3% from the value as at 31 Dec 2018. Consequently, NAV was up 2.1% during the period to €0.49 per unit

Lower Gearing

Aggregate leverage declined 1.8 percentage points QoQ to 36.2% due largely to the higher portfolio valuation

No refinancing requirements as existing borrowings will only mature in Jan 2026

Consistent Results

1 Based on IREIT’s 1H2019 DPU of 2.93 Singapore cents and closing unit price of S$0.765 as at the last trading day of 2Q2019

Steady Financial Performance

24

1H2019 net property income decreased slightly by 1.2% YoY mainly due to an increase in property operating expenses, while distributable income was 1.4% higher mainly due to lower finance expenses post refinancing of borrowings in Feb 2019

DPU in S$ terms was impacted by weaker SGD/EUR exchange rates1

24,029

30,856 31,528 30,630

15,630 15,442

FY2015 FY2016 FY2017 FY2018 1H2018 1H2019

Net Property Income€'000

-1.2% YoY20,782

25,550 25,976 25,146

12,786 12,967

FY2015 FY2016 FY2017 FY2018 1H2018 1H2019

Distributable Income€'000

+1.4% YoY 5.24

6.335.77 5.80

2.95 2.93

FY2015 FY2016 FY2017 FY2018 1H2018 1H2019

Distribution Per Unit1

Singapore Cents

-0.7% YoY

1 The DPU in Singapore dollars was computed after taking into consideration the forward foreign currency exchange contracts entered into to hedge the currency risk for distribution to Unitholders

€ ‘000 As at 30 Jun 2019 As at 31 Dec 2018 Variance (%)

Investment Properties 526,400 504,900 4.3

Total Assets 554,871 528,875 4.9

Borrowings 199,474 193,215 3.2

Total Liabilities 241,592 223,268 8.2

Net Assets Attributable to Unitholders 313,279 305,607 2.5

NAV per Unit (€/unit)1 0.49 0.48 2.1

NAV per Unit (S$/unit)2 0.75 0.75 -

Financial Position

25

The NAV per Unit in S$ terms did not increase in tandem with that in € terms due to a weaker EUR/SGD exchange rate

1 The NAV per Unit was computed based on net assets attributable to Unitholders as at 30 Jun 2019 and 31 Dec 2018, and the Units in issue and to be issued as at 30 Jun 2019 of 636.0m (31 Dec 2018: 633.4m)

2 Based on S$1.5383 per € as at 30 Jun 2019 and S$1.5618 per € as at 31 Dec 2018 extracted from MAS website

1 Based on total debt over deposited properties2 Effective interest rate computed over the tenure of the borrowings3 Based on net property income over interest expense for 2Q2019 and 4Q2018

Capital and Currency Management

26

On 1 Feb 2019, IREIT drew down the new loan facilities of €200.8m maturing in Jan 2026 to repay the then existing bank borrowings of €193.5m

Interest rate swaps were entered into to hedge 100% of the interest of the new loan facilities, resulting in an all-in cost of debt of c.1.5% p.a. over the loan tenure

As distributable income in € will be paid out in S$, IREIT has implemented a policy of hedging approximately 80% of its income to be repatriated from overseas to Singapore on a quarterly basis, one year in advance

As at 30Jun 2019

As at 31 Dec 2018

Gross Borrowings Outstanding (€’m)

200.8 193.5

Aggregate Leverage1 36.2% 36.6%

Effective Interest Rate per Annum2 1.5% 2.0%

Interest Coverage Ratio3 11.1x 8.4x

Weighted Average Debt Maturity

6.6 years 1.1 years

96.6 96.9

200.8

FY2019 FY2020 FY2021 …. FY2025 FY2026

Debt Maturity Profile€ ’million

Pre-refinancing(as at 31 Dec 2018)

Post-refinancing (as at 1 Feb 2019)

27

4

Conclusion

Münster Campus

Conclusion

28

EconomicView

Europe remains as one of the key destinations for commercial real estate investments due to its sound economic fundamentals and firm occupier demand

While there are lingering worries over international trade tensions, sharp slowdown in Chinese economy and negative repercussions of the ongoing Brexit process, the ECB is committed to support the European economy with low interest rates

Backed by a blue-chip tenant base and long leases, IREIT provides Unitholders with a high level of visibility and stability in recurring income

StrategicGoal

Both Tikehau Capital and CDL share a common aspiration of growing and diversifying IREIT’s portfolio in Europe.

With the strategic investments in the Manager and IREIT, Tikehau Capital and CDL are able to leverage on and complement each other’s strengths and resources to propel IREIT’s growth.

KeyFocus

Looking ahead, the Manager will continue to undertake various initiatives to upkeep the existing properties as they age and retain its existing tenants

Further diversification and scale will be sought with acquisitions to strengthen the portfolio even if this may have some dilutive impact on distributions in the short-term

The Manager remains focused on executing its strategy based on the four pillars of growth so as to build a resilient and sustainable portfolio for unitholders

29

5 Appendix

Concor Park

Berlin Campus

30

1 Based on all current leases in respect of the property as at 30 Jun 20192 Based on the gross rental income as at 30 Jun 20193 Based on independent valuation as at 30 Jun 2019

Key Highlights

Net Lettable Area79,097 sqm

Property in Highly Sought-after Market with Excellent Transport Connectivity to City Centre

Berlin Campus is located in Berlin-Lichtenberg and is part ofthe Victoriastadt sub-district. The Victoriastadt sub-districtis in immediate proximity to the city district of Mediaspree,characterised by numerous commercial, office,administrative and public facilities.

The building complex is almost entirely leased to the maintenant Deutsche Rentenversicherung Bund (DRV) which hasoccupied the office space since its construction in 1994.

In 2018, DRV did not exercise its lease break option toreturn part of its leased space, thus effectively bringing thenext break option to 2022. The Campus also attained 100%occupancy after securing new tenants for its retail units.

Carpark Spaces496

Occupancy Rate1

100.0%WALE2

5.0 yearsValuation3

€195.1m

Bonn Campus

31


Key Highlights


Property Strategically Located Opposite Deutsche Telekom Global Headquarter Office

Centrally located in Bonn’s prime office area ofBundesviertel (federal quarter), Bonn Campus is well servedby regular bus and train services.

The property is fully let to GMG GeneralmietgesellschaftmbH (GMG), a wholly owned subsidiary of DeutscheTelekom AG – one of the world’s leading integratedtelecommunications companies.

Bonn Campus is located directly opposite to DeutscheTelekom global headquarter office building, which isaccessible via a pedestrian bridge.

Carpark Spaces652

Occupancy Rate1

100.0%WALE2

3.8 yearsValuation3

€108.8m

Darmstadt Campus

32


Key Highlights


Attractive Property in a Key Telecommunications Office Cluster

Located in the TZ Rhein Main Business Park, around 30kmsouth of Frankfurt, Darmstadt Campus is a convenient 100mfrom the nearest bus stop and 600m from the Darmstadtcentral railway station. The property is fully let to GMG, awholly owned subsidiary of Deutsche Telekom AG.

Bonn Campus is strategically located in a keytelecommunications office cluster which comprises thesecond largest concentration of Deutsche Telekom officesafter Bonn.

Carpark Spaces1,189

Occupancy Rate1

100.0%WALE2

3.3 yearsValuation3

€87.1m

Münster Campus

33


Key Highlights


Property Located in Good Secondary Market and Rented by Blue-chip Tenant

Münster Campus is situated in the sub-market “ZentrumNord”, one of the largest office locations in Münster, and isnear to the train station. The city of Münster is consideredas a well-positioned secondary office market in Germany.

The property is largely let to GMG, a wholly-ownedsubsidiary of Deutsche Telekom AG. In 2018, the tenant atMünster South building committed to a lease extension offive years for the six floors that it is occupying, one yearahead of its lease expiry in Sep 2019. The extensionincludes a break option in 2021 for two out of the six floors.

In 2019, a 8.5-year lease commencing on 1 Jul 2019 wassecured with a new tenant for the floor vacated by GMG.

Carpark Spaces588

Occupancy Rate1

93.3%WALE2

3.8 yearsValuation3

€54.0m

Concor Park

34


Key Highlights


Fully Refurbished Multi-let Property Located Near City Limits of Germany’s 3rd largest City

Fully refurbished with modern office features in 2011,Concor Park operates as a multi-tenanted office propertywith a central canteen and a coffee bar.

The property is located within a commercial area in thecommunity of Aschheim-Dornach, adjacent to the city limitsof Munich, Germany’s third largest city by population.

In 2016, Concor Park became the first redevelopmentproject in Germany to be awarded the Green Building GoldCertificate by the German Sustainable Building Council.

In the past one year, a number of the key tenants extendedtheir leases, resulting in the long WALE of 7.7 years.

Carpark Spaces516

Occupancy Rate1

97.1%WALE2

7.7 yearsValuation3

€81.4m

Thank You

For enquiries, please contact:

IREIT Global Group Pte. Ltd.(As manager of IREIT Global)

Tel: +65 6718 0590Email: [email protected]

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mailto:[email protected]

SGX-DBSV-REITAS Corporate Day Investor Presentation in...

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